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report shows higher than average company formation in Hitchin

September 2014

The first quarter of the year saw a rise in company formation in Hitchin, putting it ahead of the UK as a whole.

Between January and March, there were 146 new companies registered in the area, representing a 17% rise on the previous year. This puts Hitchin well ahead of the UK as a whole, which experienced a 12% rise over the same period.

However, the Duport report also shows a 29% rise in company closures during the three months. This led to net company growth (the number of companies formed minus the number of closures) remaining almost level between Q1 2013 and Q1 2014.

Managing Director of Duport.co.uk, Peter Valaitis commented:

"The rising number of company formations is positive news for the local economy of Hitchin, as it should lead to a stronger and more diverse business base."

The Duport Business Confidence Report for Hitchin contains a variety of data to give an insight into the local economy of the area. More information and statistics can be found at http://www.duport.co.uk/hitchin.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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